Wall Street Opens Mixed as Market Looks Through Q3 GDP Surge; Dow Flat

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Investing.com — U.S. stock markets opened mixed on Thursday, with investors refusing to be carried away by data showing the economy grew at a record pace in the third quarter as it rebounded from the Covid-19 lockdowns of spring.

By 9:35 AM ET (1335 GMT), the Dow Jones Industrial Average was down 212 points, or 0.8%, at 26,308 points, extending the losses of Wednesday, which was its worst day in four months. The S&P 500 was down 0.3% while the Nasdaq Composite was up 0.3%, ahead of a big day for tech earnings. Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Facebook (NASDAQ:FB) and Twitter are all due to report later. 

Earlier, the Commerce Department had said that gross domestic product grew at an annualized rate of 33.1% in the third quarter, somewhat above forecasts but still not enough to bring GDP back to its pre–pandemic level. The number of initial jobless claims last week, meanwhile, fell by more than expected, but pointed to a continued high rate of layoffs at 751,000. 

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